2nd January 2020 – The global Fire
Trucks Market size is expected to value at USD 7.41 Billion by 2024.
The market is subject to witness a substantial growth due to increasing focus
towards fire safety and growing demand for advanced firefighting tools,
particularly in the developed economies across the globe. Mass production of
fire trucks has led to sale of sixteen thousand units in fiasco year. Rising
prevalence of fire breakout incidences and high-end demand for effective
transportation solution for firefighters are expected to boost the growth of
fire truck market over the next seven years. Globally, the fire trucks industry
is predicted to grow at higher CAGR in the forecast period, providing numerous
opportunities for market players to invest in research and development of the
market.
Advanced application of water trucks is
the fire fighter department. Specialized trucks with automated systems are used
for fire prevention, which are equipped with motors and various gears. Public
use of water trucks has found major preference in recent years to supply water
in large quantities in areas having low water availability. The key function of
a fire truck involves transportation of firefighters. Fire trucks also carry
necessary equipment and water with chemical composition to deal with a fire
incident.
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Favorable government laws &
regulation to employ and promote use of fire trucks for medical emergency
services and rescue operations are expected to stimulate market growth. The
recent technological advancements in the field of fire apparatus and related
equipment coupled with development of novel products such as aerial fire
apparatus and fire engine are helping to lower the fatality rate in
fire-related incidents. Development of wild land fire engine and wild land
water tender are expected to widen scope of the fire trucks market over the
forecast period.
The fire truck industry is broadly
categorized into three major segments based on end-user application such as
residential & commercial segment, enterprises & airports segments,
military segment, and others. The residential & commercial application is
considered as one of the fastest growing segment in the fire truck market with
substantial revenue generation in the last couple of years. Growing demand for
fire trucks from residential & commercial segment is attributed to growing
global population and rapid urbanization. In addition, the residential &
commercial application segment saw massive boom, in last few years, majorly in
the in developed economies such as the U.K., France, the U.S. and Canada.
Enterprises & airports segment has
also witnessed substantial growth, in the recent years, owing to the rising
number of Aircraft Rescue Fire Fighting (ARFF) vehicles to perform airport
safety and rescue operations. Enterprises & airports segment is expected to
generate higher revenue over next seven years, due to the increasing number of
airports and air passenger traffic.
The fire trucks industry is divided by
region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the rise in the
implementation of latest technologies, favorable government regulations,
substantial requirement of advanced safety infrastructure, and existence of
well-established industrial infrastructure in the region. Asia-Pacific region
is predicted to hold major market share in the fire trucks with massive growth
in forecast period. Countries such as India, China and Singapore are leading
the Asia-Pacific market with presence of key low-cost manufacturers, rising
demand from commercial & residential sector, high production capacity and
supply, and significant investment by leading industry players considering
potential growth opportunities in the region.
The key players in the fire truck
industry are Danko Emergency Equipment Co., Emergency One Incorporated, Spartan
Motors, Inc., Xuzhou Handler Special Vehicle Co., Ltd., Zoomlion Heavy Industry
Science and Technology Co., Ltd., BrontoSkylift Oy, J. Morita Co., Boise Mobil
Equipment, Inc., Alexis Fire Equipment Co., W. S. Darley & Co., KME Co.,
Albert Ziegler GmbH, and Gimaex International Co.
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